O.C.’s auto dealerships had a very positive year for sales and returns last year, based on the annual assessment from the Newport Beach-based Orange County Automobile Dealers Assosciation (OCADA). According to the group’s 2011 Economic Impact Report, local franchised dealerships had a combined economic impact of more than $7.6 billion in 2011, a 17.8 percent increase over 2010’s sales.
A total of 224,640 vehicles were sold over the year in Orange County –– almost 10 percent more than the previous year –– which generated $647 million in tax revenue. Of that amount, almost $59.5 million went directly back to Orange County cities, exceeding 2010’s local city tax revenue by 15 percent.
O.C.’s 117 franchised auto dealers comprise the fourth largest employer group in the county, paying out more than $560 million in wages and benefits last year.
“Orange County’s franchised new vehicle dealers’ impact of $7.6 billion benefits our communities and local and state governments, as well as the more than 11,000 individuals they employ,” said John Sackrison, executive director of the Orange County Automobile Dealers Association. “The 2011 Economic Impact Report illustrates how our local automotive retail market continues to improve and rebound, and we anticipate that 2012 will also show marked improvement as the local and national economies continue to improve.”
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